All signs are showing Noble Group is going to start a bullish uptrend.
- Noble Group has cleared the previous support turned resistance of Descending Triangle of $1.04.
- Noble Group has cleared the 200D SMA resistance and trading above all the 3 Moving Averages.
- Noble Group is trading in an uptrend channel.
- Morning Doji Star (or Bullish Abandoned Baby) rebounded at up trend channel support and 100% FR support.
- Noble Group is fitting the Fibonacci Retracement Level (0%, 61.8%, 100%, 161.8%) very nicely.
- Noble Group will be heading towards 261.8% Fibonacci Retracement level at about $1.25 IF
- Stay above $1.04 and this becomes a reliable support.
- Clear $1.06 resistance (161.8% FR)
- Uptrend still intact (higher high, higher low)
However, the whole bullish scenario will be void if Noble Group goes below $1.04 and the 200D SMA become resistance.
Original analysis by Marubozu @ My Stocks Investing Journey.
WATCH OUT Earning release on Nov 12, 2013.
Key Statistics for NOBL
|Current P/E Ratio (ttm)||23.5758|
|Relative P/E vs. FSSTI||1.7251|
|Earnings Per Share (USD) (ttm)||0.0360|
|Est. EPS (USD) (12/2013)||0.0560|
|Est. PEG Ratio||1.0112|
|Market Cap (M SGD)||6,991.81|
|Shares Outstanding (M)||6,627.31|
|30 Day Average Volume||26,622,270|
|Dividend Indicated Gross Yield||2.13%|
|Cash Dividend (USD)||0.0181|
|5 Year Dividend Growth||0.53%|
|Next Earnings Announcement||11/12/2013|